Oil rises above 91 amid supply worries
Oil prices have risen above $91 per barrel amid escalating tensions between the United States and Iran and growing concerns over potential disruptions to oil supplies, especially as the conflict in the Gulf intensifies and Iran attempts to block the Strait of Hormuz. Renewed fighting and American threats to strike Iran have increased uncertainty and reduced ship traffic passing through the strait, with the number of ships crossing dropping to five daily. Despite mediation efforts, tensions continue to threaten the stability of global oil supplies, with the possibility that prices will remain above $80 per barrel throughout 2026.
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